Takaful Emarat Insurance Company has invited its shareholders to attend the general assembly of the company on October 8 to discuss raising the percentage of foreign ownership to 49% of the total shares of the company.
The company said in a disclosure to the Dubai Financial Market, yesterday, it will discuss the amendment of Article VII of the company's articles of association to allow non-national ownership of 49% of the total shares of the company. Shares of the Company throughout the life of the Company.
Article VII of the company's articles of association currently allows foreigners to hold no more than 25% of the company's shares.
The company said that the amendment of the article requires the approval of a majority vote of shareholders who own at least 75% of the shares of the company during the general assembly meeting.